DTN Daily Basis Comments

DAILY BASIS AND CASH INDEX SUMMARY:

The national average basis for corn was steady at 42 cents under the December futures contract, while the DTN National Corn Index was down 6 cents at $3.73. The national average basis for soybeans was steady at 81 cents under the November futures contract, while the DTN National Soybean Index was down 9 cents at $9.20. The national average basis for hard red winter (HRW) wheat was steady at 76 cents under the December futures contract, while the DTN National Hard Red Winter Wheat Index was down 11 cents at $4.22. The national average basis for hard red spring (HRS) wheat was 1 cent stronger at 53 cents under the MIAX Minneapolis December futures contract, and the DTN National Hard Red Spring Wheat Index was down 6 cents at $5.10.

	DTN Cash	Change From	National	Contract	Change from
Commodity	Index	Prev Day	Avg. Basis	Month	Prev Day
Corn:	$3.73	-$0.06	-$0.42	Dec	-$0.003
Soybeans:	$9.20	-$0.09	-$0.81	Nov	-$0.004
SRW Wheat:	$4.38	-$0.11	-$0.70	Dec	$0.006
HRW Wheat:	$4.22	-$0.11	-$0.76	Dec	$0.000
HRS Wheat:	$5.10	-$0.06	-$0.53	Dec	$0.005

CORN:

The national average corn basis for Tuesday was 42 cents under the December futures, unchanged from Monday's basis. PNW basis is steady for October at +110Z and Hereford, Texas, for October is steady at +100Z. CIF basis is 3 cents stronger at +81Z and track St. Louis is 2 cents weaker at option Z. Processors are steady with Cedar Rapids, Iowa, 2 cents stronger at -25Z; Fort Dodge, Iowa, is steady at -40Z; Council Bluffs, Iowa, is steady at -29Z; Decatur, Illinois, is steady at -10Z; Mitchell, South Dakota, is 3 cents stronger at -55Z; Blair, Nebraska, is steady at -22Z; Hastings, Nebraska, is steady at -25Z; Lincoln, Nebraska, is at -38Z; Garden City, Kansas, is 10 cents stronger at -10Z; Columbus, Nebraska, is steady at -15Z; and Marshall, Minnesota, is steady at -40Z.

SOYBEAN:

The national average soybean basis for Tuesday was 81 cents under the November futures, unchanged from Monday's basis. PNW basis for Oct.is at +45X. CIF basis is steady at +61X and track St. Louis is steady at -30. River basis north of St. Louis on the Mississippi River at Quincy, Illinois, is 3 cents stronger at -37X; St. Paul, Minnesota, is steady at -90X and basis on the Illinois River at Havana, Illinois, is steady at -40X. Processors are mixed with Council Bluffs, Iowa, steady at -55X; Cedar Rapids, Iowa, is 15 cents weaker at -60X; Sioux City is steady at -55X; Decatur, Illinois, is steady at -30X; Volga, South Dakota, is steady at -95X; Spiritwood, North Dakota, is steady at -120X; Hastings, Nebraska, is 3 cents weaker at -79X; Lincoln, Nebraska, is steady at -40X; Aberdeen, South Dakota, is steady at -105X; Mitchell, South Dakota, is steady at -116; and Mankato, Minnesota, is steady at -50X. BN secondary shuttle freight for returns is bid plus $500 over against offers of plus $700 over, FH Oct.is bid plus $500 over against offers of plus $800 and LH Oct. is bid plus $600 over against no offers. UP secondary freight for returns is bid plus $100 over against no offers and FH Oct. is bid plus $200 over against no offers.

SOFT RED WINTER WHEAT:

The national average SRW wheat basis for Tuesday was 70 cents under the December futures, 1 cent stronger than Monday's basis.

HARD RED WINTER WHEAT:

The national average HRW wheat basis for Tuesday was 76 cents under the Kansas City December futures, unchanged from Monday's basis. Spot premiums were steady to higher with ordinary protein unchanged at +75; 11.0% through 11.4% was down 2 at +81; 11.6 through 12.6% is down 4 at +81; 12.8% is steady at +90; 13% through 13.2% is down 15 at +95; 13.4% through 14% is steady at +115. Gulf bid for spot 11% protein was steady at +90Z with no protein bumps. September PNW 11.5% is steady at +140Z, while Texas Gulf basis for 11% is steady at +120Z. USDA Small Grains Summary on Tuesday reported U.S. all wheat production totaled 1.98 billion bushels (bb) in 2025, up less than 1% from the revised 2024 total. Area harvested for grain totaled 37.2 million acres, down 4% from the previous year. The average yield in the United States was estimated at 53.3 bushels per acre, up 2.1 bushels from the previous year. The levels of production and changes from 2024 by type were: winter wheat, 1.40 billion bushels, up 3%; other spring wheat, 497 million bushels, down 9%; and durum wheat, 86.2 million bushels, up 8%.

HARD RED SPRING WHEAT:

The national average HRS wheat basis for Tuesday was 53 cents under the MIAX Minneapolis December futures, 1 cent stronger than Monday's basis. The MIAX Futures Exchange, LLC Floor Trading Summary of spot milling spring wheat cash premiums closed as follows basis the December MIAX spring wheat futures: 12% proteins was not quoted; 13% proteins are not quoted; 13.5 proteins were not quoted; 14 proteins were up 5 at +110; 14.5% proteins were unchanged at +115N to +165N; 15% proteins were down 5 at +190 and 16% proteins were not quoted. Wheat receipts on the exchange floor were 22 cars, which includes zero train(s). Bid (B), Ask (A), Nominal (N). Minneapolis Daily Spot Grain Prices are Delivered Chicago/Beyond freight.

Mary Kennedy can be reached at mary.kennedy@dtn.com

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